Wanda Group Breaks Ground on What Wang Says Will Be World's Largest Film Studio

QINGDAO, China—Executives of Universal Pictures and Sony Pictures Entertainment joined Hollywood stars Leonardo DiCaprio, Catherine Zeta-Jones, Nicole Kidman and John Travolta in this Chinese seaside city to meet a man who will likely play a bigger role in their future.

Wang Jianlin, China's richest man and the chairman of property-and-entertainment conglomerate Dalian Wanda Group Corp., said Sunday he is breaking ground on a 30-billion-yuan to 50-billion-yuan ($4.9 billion to $8.2 billion), mega-entertainment center...